28. If Holly's demand for fast food increases as her income rises, then fast food is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
28. If Holly's demand for fast food increases as her income rises, then fast food is a complementary good the law of demand must apply fast food is a normal good for her fast food is an inferior good for her fast food is a substitute good 28. If Holly's demand for fast food increases as her income rises, then fast food is a complementary good the law of demand must apply fast food is a normal good for her fast food is an inferior good for her fast food is a substitute good
Expert Answer:
Answer rating: 100% (QA)
option 3 is correct fast food is normal goods for her Ex... View the full answer
Related Book For
Microeconomics Theory and Applications
ISBN: 978-1118758878
12th edition
Authors: Edgar K. Browning, Mark A. Zupan
Posted Date:
Students also viewed these economics questions
-
If income increases and the demand for good X shift as shown in the figure, then is good X a normal or inferior good? Give an example of a good like good X. Price Demand with low income Demand with...
-
30. If Holly's demand for fast food decreases as her income rises, then the law of demand must apply fast food is a complementary good fast food is a normal good for her fast food is a substitute...
-
A Giffen good must be an inferior good, but an inferior good need not be a Giffen good. Explain this statement fully, using the concepts of income and substitution effects.
-
Write a nonrecursive function that takes the first Node in a linked list as an argument and reverses the list, returning the first Node in the result.
-
S & P one of the leading credit rating organisations and publisher of financial information and research services, identifies its debt rating process as outlined in the question. Standard & Poor's...
-
Write a pathway leading from glucose to lactose in mammary gland, and write a balanced equation for the overall pathway. ATP Kinase" ADP Glucose B HK ATP ADP ADP OH "Kinase" ATP Glucose-6-P F H PGI...
-
Condenser efficiency is defined as : (a) \(\frac{t_{o w}-t_{i w}}{t_{s}-t_{i w}}\) (b) \(\frac{t_{s}-t_{i w}}{t_{o w}-t_{i w}}\) (c) \(\frac{t_{o w}-t_{i w}}{t_{s}}\) (d) \(\frac{t_{s}}{t_{o w}-t_{i...
-
On January 1, 2010, Carolinas Corporation had the following stockholders equity accounts. Common stock ($20 par value, 60,000 shares issued and outstanding) ... $1,200,000 Paid-in Capital in Excess...
-
Given a system of 4 processes with a set of constraints described by the following precedence relation: {(P1, P3), (P1, P4), (P2, P4)} The processes access memory locations according to the following...
-
The two employees of Silver Co. receive various fringe benefits. Silver Co. provides vacation at the rate of $315 per day. Each employee earns one day of vacation per month worked. In addition,...
-
Subdivisions of a city, 1, 2, and 3, are located at the points P1(0,2), P3(5,1), P2(2,6) respectively. We would like to locate a government office to serve all subdivisions. However, because of many...
-
Ruby has a choice between 3 savings accounts. Savings account A has an APR of 3.9742% compounded monthly. Savings account B has an APR of 3.9886% compounded quarterly. Savings account C has an APR of...
-
An investment group offers their clients advice on creating a diversified investment portfolio. A client asks them to develop a portfolio that includes Investment in a Domestic Growth Fund (a mutual...
-
As a practice manager , you will use planning and organizing skills daily to ensure the quality of care. As a health care manager, how could you use the skills of planning and organizing to...
-
+ INNER JOINS: Join three tables: Using the Order Details, OrderHeaders, and Products tables, determine for each product the average price received in 2019 and compare this amount to the list price...
-
These questions In one or two sentences, describe your product, the company you represent and the brand image you want the product to project. Considering the 5 Cs mentioned in this module, what type...
-
If $11,000 is invested in an account for 10 years. Find the value of the investment at the end of 10 years if the interest is: (a) 6% simple interest: $ (b) 6% compounded annually: $
-
Tanaka Company's cost and production data for two recent months included the following: March April Production (units).........300................600 Rent.....................$1,800............$1,800...
-
Suppose that there is a single seller of gasoline in a particular town. Suppose that policymakers, outraged by the prices charged by this monopoly seller, impose a price ceiling. Will the sellers...
-
A piece of state legislation proposes banning smoking in nearly all public facilities and private businesses. The major argument for the bill is that it is needed to protect nonsmokers from the...
-
If the cubic total cost function described in the text applies to the production of output by a firm, and a = 0, b = 400, c = 50, and d = 5, what are the equations for the firms TFC, TVC, MC, AFC,...
-
Describe the process of going public using an IPO, starting with underwriter selection and proceeding through the various stages that lead to determination of an issue price.
-
Identify at least four methods by which investors and/or the entrepreneur in a new venture can harvest their investment in a new venture. Describe the costs and benefits of each, and provide a...
-
From the perspective of the entrepreneur, what are the pros and cons of an IPO as opposed to private sale of the venture to a public company in exchange for stock or cash?
Study smarter with the SolutionInn App